I invest in a partnership with a friend and now business partner. So far we have bought 5 properties ranging from a small development site, some reno/flips and 1 wrap. In buying these properties we put out about 20 offers in total over about a 6 month period.

Since we are just starting out, we are taking things slow in order to build up to a full…[Read more]

Hi Insider,

I think you misunderstood my post.

Let me clarify things by saying that I work very closely with 5 or 6 agents in the areas that I currently invest. I get excellent feedback from them on vendors situations and we work together to put good offers on properties that they feel have the greater chance of being accepted.

If they know a…[Read more]

Hi Sooshie,

That does sound like an interesting game, i might see if I can find it somewhere.

Mathew.

This actually is quite a good topic. Most of us have played monopoly at some stage, but it would be interesting to know what other business or investing games people have played.

I have played cashflow 101 a few times and liked it but thats about it. Sooshie what is the game pay day that you mentioned? How does it work and is it good to…[Read more]

There are more ways to get a good deal than trying to low ball. If you have done your research on the area and spoken to enough agents, you should know what the approximate FMV of a property is to within about 10K.

If the property is around that price or under, then to me a low ball offer is not warranted especially if it is under. I would be…[Read more]

Hi Poochi,

Have you tried to refinance your home or have you tried to get a new loan using your home as equity?

An option for you might be to refinance your home and use the money to become a money partner for an investor.

There would be lots of investors out there (like me) who would be happy to pay you interest on your money or share profits…[Read more]

Oscar,

What type of offers are you making and what is your expectancy rate of them being accepted?

Cheers,

Mathew.

Hi Russell,

Your post is slightly limited in information to help you with your costings and profits.

Do you actually own the land or is it mortgaged? If it is mortgaged you will need to take into account the amount owing on the property in your calculations.

You don’t say much in regards to your other costs such as D/A, architect, legals or…[Read more]

APIM,

Your last post helps me to see your point of view, and I appologise if it came across that I was attacking you…..I wasn’t.

I too agree with Steve’s idea of helping people, and part of my income goes to charity to do just that.

When investing in property buy wraps, L/O or buy/hold I know I am helping people to either buy their own home…[Read more]

APIM,

If I can just dissect this post for a moment, I will address a couple of issues that stand out to me.

quote:

1) I could never agree with such practices, and feel no sorrow for the workers. They stay on the job because of drugs and fear. They COULD find a better job if they really wanted to. Most of the time they are exploited and treated…

[Read more]

I agree with Sooshie on this one. I don’t believe a brothel is unethical at all. In fact if there were more brothels that were legal and had good conditions, maybe there would be less street prostitution.

At least in a brothel things like disease can be kept in check and violence to prostitutes is non existent. On the street however it is a…[Read more]

As usual AD you have hit the nail on the head with your thoughtful and knowledgeable response.

Cheers,

Matt.

Absolutely AD, once you start to think different to everyone else and start asking how can I do this, anything is possible.

Matt.

quote:

I think private treaty sales are sales that are not listed with an agent ie FSBOs (For Sale By Owner) or individual to trust/company.

A private treaty sale is simply the form of sale where offers made on a property are not public knowledge like they are at auction. Basically any property that is not put to auction is a private treaty…[Read more]

I had a read through the document that Michael posted and one section says that beneficiaries and the appointer are protected providing they do not sign a personal guarantee.

In that situation only the assets of the trust could be liable. It might be worth taking some time to read the document as it is very helpful.

Cheers,

Matt.

I seem to recall reading somewhere that a profit made by a trust that is not distributed to beneficiaries, may be left in there and not taxed if it can be demonstrated that the trust intends to re-invest that profit.

Maybe I am mistaken but it might be worth looking into.

Cheers,

Mathew.

Hi Fullout,

I was just doing some calculations based on your numbers and wanted to share my figures with you.

Based on that and the purchase figures you mentioned, my calculations are as follows:

Property – $83,000
Deposit – $8,300
Loan – $74,700
I/O rate – 6.11%
Payment – $380/month
P&I rate – 6%
Payment – $447/month
Upfront Costs -…[Read more]

quote:

Finally, don’t eat too much chocolate []

Thanks for the well wishes Steve, I wish the same to yourself and everyone else on the forum.

But c’mon, not to eat too much chocolate…..ain’t gonna happen []

Cheers.

Matt.

Hi Ziz,

I have just started on my investing future and reading your post about what you have achieved has inspired me in a very positive way.

You mentioned being in Sydney and if it is at all possible I would really appreciate an opportunity to meet with you sometime to hear more about your experiences and learn from someone with your…[Read more]

Do you have to tell the lender what you will use your equity for? I spoke to my lender about refinancing to gain the use of my equity so I can invest in a few properties and he said it didn’t matter what I planned to do with it.

Cheers,

Mathew.